Safety Insurance Group (SAFT) Expected to Post Earnings on Wednesday

Safety Insurance Group (NASDAQ:SAFT) will likely be posting its results after the market closes on Wednesday, August 5th. Analysts expect the company to announce earnings of $2.00 per share and revenue of $322.9010 million for the quarter.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($2.17). The business had revenue of $314.67 million during the quarter, compared to analyst estimates of $315.01 million. Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. On average, analysts expect Safety Insurance Group to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Safety Insurance Group Stock Performance

Shares of SAFT stock opened at $103.39 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $76.52 and a two-hundred day simple moving average of $75.69. Safety Insurance Group has a 12 month low of $67.04 and a 12 month high of $103.57. The firm has a market capitalization of $1.52 billion, a PE ratio of 24.44 and a beta of 0.17.

Safety Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, June 1st. Safety Insurance Group’s dividend payout ratio (DPR) is currently 87.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SAFT shares. Zacks Research upgraded shares of Safety Insurance Group to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings upgraded Safety Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. Finally, Wall Street Zen raised Safety Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Safety Insurance Group presently has an average rating of “Hold”.

Insiders Place Their Bets

In other Safety Insurance Group news, major shareholder Corp Srb sold 1,240,352 shares of Safety Insurance Group stock in a transaction on Monday, July 27th. The shares were sold at an average price of $103.07, for a total transaction of $127,843,080.64. Following the transaction, the insider directly owned 473,387 shares of the company’s stock, valued at $48,791,998.09. The trade was a 72.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 1,316,109 shares of company stock worth $134,654,987. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Safety Insurance Group

A number of institutional investors have recently added to or reduced their stakes in SAFT. PNC Financial Services Group Inc. lifted its position in shares of Safety Insurance Group by 62.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after buying an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Safety Insurance Group by 1,317.1% during the second quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 461 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Safety Insurance Group by 653.0% during the fourth quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 431 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Safety Insurance Group during the fourth quarter worth $52,000. Finally, Quadrant Capital Group LLC lifted its holdings in Safety Insurance Group by 309.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,130 shares of the insurance provider’s stock worth $88,000 after acquiring an additional 854 shares during the period. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.